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How Inflation Eats into Your Savings Over 3 Years: The Fixed Deposit Example
Imagine you have ₹10,00,000 in a Fixed Deposit (FD) earning an annual interest rate of 6%. At first glance, this seems like a reasonable return, but let’s see how inflation impacts the real value of your savings over three years. We’ll assume the annual inflation rate is 7%. Here’s what happens over the next three…